Adoption of a digital currency could soon become a reality in Kenya.
This comes after the Central Bank of Kenya (CBK) said it is working out the pros and cons of the country having the currency.
CBK GovernorPatrick Njoroge said the regulator is studying financial impacts of the currency if used in the market.
“What is most important is that we are in a decisive way knowing the benefits and isolating the risks can move in a particular way,” he said.
ICT Cabinet Secretary Joe Mucheru says Kenya revolutionised mobile money with the innovation of M-Pesa and therefore should also lead the world in adoption of digital currency.
“We fortunately lead in digital money and we must not lose the advantage we have and become followers again,” said Mucheru.
There has been a global public interest towards adoption of Bitcoin (a digital currency).